研究限制與後續研究建議

國

立 政 治 大 學

‧

N a tio na

l C h engchi U ni ve rs it y

第二節 研究限制與後續研究建議

本研究資料涵蓋 2005 年至 2013 年，在此期間，國際金融市場亦受景氣波動 之影響而有所變動，因此財務績效表現之好壞與盈餘損失或獲利，有可能係受到 企業內部管理決策及業務經營之景氣現象所致，並非全然因盈餘平穩化行為所致 之結果，且藉由實證結果顯示良好的企業社會責任公司有盈餘管理行為，但無法 精確分辨企業是為了提升盈餘持續性、可預測性與降低企業風險，還是管理階層 為了私有利益而進行盈餘平穩化。

最後，本研究亦建議可同時考量不同之企業社會責任衡量指標，探究企業社 會責任與盈餘平穩化的關係，以提高樣本的可信度及代表性。此外，由於履行企 業社會責任之產業類別多變，各產業所重視的項目也會有所不同，造成在企業社 會責任績效評比上也會有所落差，故也建議後續研究可針對各產業類別進行探討 社會責任與盈餘平穩化間之關聯性。最後由於本研究之盈餘平穩化為近十年之資 料，建議後續研究者可以擴大資料範圍，進行比較。

‧

Aboody, D. and B. Lev, 2000. Information asymmetry, R&D, and insider gains. The Journal of Finance 55 (December): 2747-2766.

Arrow, K. J. 1973. Social responsibility and economic efficiency. Public Policy and Finance.

Becker, C., M. DeFond, J. Jiambalvo, and K. R. Subramanyam. 1998. The effect of audit quality on earnings management. Contemporary Accounting Research 15 (April): 1-24.

Beidleman, C. 1973. Income smoothing: The role of management. The Accounting Review 48(October): 653–667.

Bitner, L. N. and R. Dolan .1998. Does smoothing earnings add value? Management Accounting Review 76(October): 44-47.

Bowen, H. 1953. Social responsibilities of the businessman. New York, Harper.

Carroll, A. B. 1979. Business and society, Ethics and Stakeholder Management, South-Western.

Caballero, R. J., and A Krishnamurthy. 2008. Collective risk management in a flight to quality episode. The Journal of Finance 63(October): 2195-2230.

Chih, H., C. Shen, and F. Kang. 2008. Corporate social responsibility, investor protection, and earnings management: Some international evidence. Journal of Business Ethics 79(April): 179-198.

Chatterji, A., D. Levine, and M. Toffel. 2009. How well do social ratings actually measure corporate social responsibility? Journal of Economics and

‧

Management Strategy 18 (Feburary): 125–169.

Demerjian,P ,M Lewis, and S. McVay. 2014. Earning smoothing: for good or evil?

Working paper, Emory University.

Dechow, P., R. Sloan, and A. Sweeney. 1996. Causes and consequences of earnings manipulation: An analysis of firms subject to enforcement actions by the SEC.

Contemporary Accounting Research 13(April): 1–36.

Dechow, P., and I. Dichev. 2002. The quality of accruals and earnings: The role of accrual estimation error. The Accounting Review 77 (January): 35–59.

DeFond, M., and K. R. Subramanyam. 1998. Auditor changes and discretionary accruals. Journal of Accounting and Economics 25 (February): 35–67.

Dhaliwal,D.S , ,O.Z. Li, and Y.G. Yang. 2011. Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting. The Accounting Review 86(January): 59–100

Drucker, P.F. 1993. Post Capitalist Society, Oxford, U K: Butterworth Heinemann.

Dye, R. 1988. Earnings management in an overlapping generation model. Journal of Accounting Research 26 (Autumn): 195-235.

Fama, E. F., and K. R. French. 1992. The cross-section of expected stock returns. The Journal of Finance 47 (June): 427-465.

Fama, E. F., and K. R. French. 1993. Common risk factors in the returns on stocks and bonds. Journal of Financial Economics 33 (February): 3-56.

Fukui, Y.: 2000, Earnings management with the help of historical cost accounting: not for managers but for investors, Working Paper, Tohoku University.

Francis, J. R., E. L. Maydew, and H. C. Sparks. 1999. The role of Big 6 auditors in the

‧

credible reporting of accruals. Auditing: A Journal of Practice & Theory 18 (September): 17-34.

Friedman, M. 1970. The social responsibility of business is to increase its profits. N.Y.

TIMES, Sep: 13.

Goel, A. M. and A. V. Thakor. 2003, Why do firms smooth earnings? Journal of Business 76(January): 151–192.

Goss.A and G.S. Roberts. 2011. The impact of corporate social responsibility on the cost of bank loans. Journal of Banking & Finance 35 (July): 1794–1810.

Graham, J. R., C. R. Harvey, and S. Rajgopal. 2005. The economic implications of corporate financial reporting. Journal of Accounting and Economics, 40(June):

3-73.

Griffin, J., and J. Mahon. 1997. The corporate social performance and corporate financial performance debate: Twenty-five years of incomparable research.

Business and Society 36 (March): 5–31.

Hart, S.L., and G. Ahuja.1994.“Does it pay to be green?” Working paper , Academy of Management.

Hepworth, Samuel R. 1953. Smoothing periodic income. The Accounting Review 28(January): 32-39.

Hirst, D., and P. Hopkins. 1998. Comprehensive income reporting and analysts' valuation judgments. Journal of Accounting Research 36(Spring): 47-75.

Hunton, J., R. Libby, and C. Mazza. 2006. Financial reporting transparency and earnings management. The Accounting Review 81(January): 135-157 Holman, W.R., J.R.New, and D. Singer. 1990, The impact of corporate social

‧

responsiveness on shareholder wealth,” Corporation and Society Research:

Studies in Theory and Measurment . Greenwich, CT: 265-279

Jo, H., and Y. Kim. 2007. Disclosure frequency and earnings management. Journal of Financial Economics 84 (May): 561-590.

Jones, J. 1991. Earnings management during import relief investigations. Journal of Accounting Research 29 (Autumn): 193–228.

Jones, T. 1995. Instrumental stakeholder theory: A synthesis of ethics and economics.

The Academy of Management Review 20 (April): 404–437.

Kim,Y, Parl M.S and Weir B. 2012. Is Earnings Quality Associated with Corporate Social Responsibility? The Accounting Review 87(July): 761–796

Kile,C and M Phillips. 2009. Using industry classification codes to sample

high-technology firms: Analysis and recommendations. Journal of Accounting, Auditing & Finance 24(January): 35-58.

KLD Research and Analytics, Inc. (KLD). 2006. Getting Started with KLD Stats and KLD’s Ratings Definitions. Boston, MA: KLD Research & Analytics, Inc.

Kothari, S. P., A. Leone, and C. Wasley. 2005. Performance matched discretionary accrual measures. Journal of Accounting and Economics 39 (February): 163–

197.

Leuz, C., D. Nanda, and P. Wysocki. 2003. Investor protection and earnings management. Journal of Financial Economics 69 (October): 505–527.

Lev, B., and T. Sougiannis. 1996. The Capitalization, Amortization and Value Relevance of R&D. Journal of Accounting and Economics 121(April):

107-138.

‧

Maines, A., and L. McDaniel. 2000. Effects of comprehensive-income characteristics on nonprofessional investors' judgments: The role of financial-statement presentation format. The Accounting Review 75(April): 179-207.

McGuire, Jean B., Alison Sundgren, and Thomas Schneeweis. 1988. Corporate social responsibility and firm financial performance, Academy of Management

Journal 31(December): 854-872.

McWilliams, A., and D. Siegel. 2000. Corporate social responsibility and financial performance: Correlation or misspecification? Strategic Management Journal 21 (May): 603-609.

Moses, O. D. 1987. Income smoothing and incentives: Empirical tests using accounting changes. The Accounting Review 62 (April): 358–77.

Prior, D., J. Surroca, and J. A. Tribó. 2008. Are socially responsible managers really ethical? Exploring the relationship between earnings management and

corporate social responsibility. Corporate Governance: An International Review 16 (May): 160-177.

Ronen, J., and S. Sadan. 1981. Smoothing Income Numbers: Objectives, Means, and Implications.Boston, MA: Addison-Wesley Publishing Company.

Rosenberg, B., K. Reid, and R. Lanstein. 1985. Persuasive evidence of market inefficiency. Journal of Portfolio Management 11 (Spring): 9-16.

Roychowdhury, S. 2006. Earnings management through real activities manipulation.

Journal of Accounting and Economics 42 (December): 335-370.

Schipper, K. 1989. Earnings management, Accounting Horizons 3:91-102.

Tucker, J. and P. Zarowin. 2006. Does income smoothing improve earnings

‧ 國

立 政 治 大 學

‧

N a tio na

l C h engchi U ni ve rs it y

informativeness. The Accounting Review 81 (January): 251–270.

Trueman, B., and S. Titman. 1988. An explanation for accounting income smoothing.

Journal of Accounting Research 26 (Spring): 127-139.

Waddock, S. A., and S. B. Graves. 1997. The corporate social performance-financial performance link. Strategic Management Journal 18 (April): 303-319.

Watts, R. L. and J. L. Zimmerman. 1978. Towards a positive accounting theory of the determination of Accounting Standards, The Accounting Review 53(January):

112-134.